On Tuesday, Shares of Barrick Gold Corporation (NYSE:ABX), lost -2.67% to $7.66.
Barrick Gold Corporation declared refinements to its administration structure as part of the company’s strategy to create long-term value for its owners as a more focused and efficient business, in line with the mindset and model that drove Barrick’s early success.
Kelvin Dushnisky, most recently Co-President, has been designated President. Richard Williams, formerly Chief of Staff, has been designated Chief Operating Officer and will report to Mr. Dushnisky. Basie Maree, most recently Senior Vice President, Technical Services has been designated Chief Technical Officer. He will report to Mr. Williams. Jim Gowans, who has made noteworthy contributions to the company as Co-President, will support this transition as a Senior Advisor to the Chairman until his retirement from Barrick on December 31, 2015. These appointments are effective right away.
Mr. Dushnisky will have overall responsibility for execution of the company’s planned priorities, with a focus on improving productivity and driving down costs. Mr. Williams will lead the day-to-day implementation of these objectives. They are charged with driving the organization to reach our target of $2 billion in reduced expenditures across the company by the end of 2016. Central to this effort is Mr. Maree, a seasoned mining industry professional with more than 35 years of experience in operations, mineral processing and mine plan optimization.
Barrick Gold Corporation produces and sells gold and copper. The company is also involved in exploration and mine development activities. It conducts mining, development and exploration, and other activities in various countries, counting the United States, Canada, Australia, Argentina, Chile, Peru, the Dominican Republic, Papua New Guinea, Tanzania, Zambia, and Saudi Arabia.
Shares of American International Group, Inc. (NYSE:AIG), declined -0.92% to $63.71, during its last trading session.
American International Group, declared that it has priced the sale of 10,677,702 ordinary shares of AerCap Holdings N.V. (AER) by means of an underwritten public offering. Closing of this transaction is planned for August 24, 2015 and is subject to customary closing conditions. AIG will receive net cash proceeds of about $500 million. After the closing of the sale, AIG will not own any ordinary shares of AerCap.
“The sale of our remaining ordinary shares of AerCap marks a further step in our efforts to enhance intrinsic value,” said Peter D. Hancock, President and Chief Executive Officer, AIG. “It adds to AIG’s financial flexibility and provides us with an opportunity to maximize shareholder value – whether through continued balance sheet optimization and capital administration, organic growth investment, or inorganic acquisitions that assist us meet our customers’ needs.”
American International Group, Inc. provides insurance products and services for commercial, institutional, and individual customers in the United States, the Asia Pacific, and internationally.
Finally, Medical Properties Trust Inc. (NYSE:MPW), ended its last trade with 1.04% gain, and closed at $12.61.
Medical Properties Trust declared that the formerly declared public offering of €500 million aggregate principal amount of senior notes due 2022 by its operating partnership, MPT Operating Partnership, L.P. and MPT Finance Corporation, a wholly-owned partner of the Operating Partnership, priced recently with a coupon of 4.00%. The Notes will be senior unsecured obligations of the Operating Partnership and MPT Finance, guaranteed by the Company.
The Operating Partnership intends to use the net proceeds from the offering of the Notes to finance the remaining aggregate purchase price payable in connection with its formerly declared acquisition of up to 35 healthcare facilities from the Median Kliniken group S.à r.l. and related financing and sale-leaseback transactions, to fund its formerly declared investments in Italy and Spain, to repay borrowings made under its revolving credit facility and to pay fees and expenses related to the foregoing.
Goldman, Sachs & Co., Crédit Agricole CIB, Credit Suisse Securities (Europe) Limited, J.P. Morgan, BofA Merrill Lynch and Barclays are acting as joint book running managers for the offering of the Notes; Banco Bilbao Vizcaya Argentaria, S.A., KeyBanc Capital Markets, RBC Capital Markets, Stifel, SunTrust Robinson Humphrey and Wells Fargo Securities are acting as co-lead managers.
Medical Properties Trust, Inc. operates as a real estate investment trust (REIT) in the United States. It acquires, develops, and invests in healthcare facilities; and leases healthcare facilities to healthcare operating companies and healthcare providers.
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